A new report by the United Nations Environment Programme (UNEP) confirms that an investment of two percent of global GDP across 10 key sectors is what is required to kick-start a shift from the current brown, polluting and inefficient economy to a green one.
The report estimates that such a transition would grow the global economy at around the same rate, if not higher, than those forecast, under current economic models.
But without rising risks, shocks, scarcities and crises increasingly inherent in the existing high carbon ‘brown’ economy.
From China to Barbados, from Brazil to South Africa, countries are developing Green Economy strategies and activities to spur greater economic growth and jobs, environmental protection and equality.
In addition to higher growth, an overall transition to a Green Economy would realize per capita incomes higher than under current economic models, while reducing the carbon footprint by nearly 50 per cent in 2050, as compared to business-as-usual.
At the end of year the UN climate summit in Durban will be the arena of global comparison regarding environmental policies, where the EU intends to play a leading role.
The Green Economy Report acknowledges that in the short-term, job losses in some sectors are inevitable if they are to transition towards sustainability.
However, it adds that over time the number of new jobs created in sectors will offset those lost from the former “brown economy”